Wednesday, 1 February 2017

EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 1 FEBRUARY 2017

Soyabean trading range for the day is 3046-3120. Soyabean recovered on short covering after prices dropped on sluggish demand in export market and increasing supply in global market. USDA trimmed 2016-17 United States soybean production forecast for January also cut forecast for ending stockpiles compared to previous month. NCDEX accredited warehouses soyabean stocks gained by 3466 tonnes to 181291 tonnes. At the Indore spot market in top producer MP, soybean dropped -11 Rupees to 3020 Rupees per 100 kgs.